Ascendas REIT to acquire seven logistics properties in Chicago for $133.2 mil

William Tay includes that the profile of properties has a long weighted ordinary rental expiration of five years together with is completely hired to 12 lessees. The lessees include logistics service companies, engineering business, and also a food dealer.

Ascendas REIT will definitely acquire a profile of seven logistics homes in Chicago, Illinois, in the United States. The REIT’s manager, Asendas Funds Supervision, disclosed that the total investment factor for the accounts is $133.2 million.

Piccadilly Grand Northumberland Road

“Adhering to our effective entry into the United States logistics industry in November 2021, we delight in to attain another portfolio making up 7 logistics buildings in Chicago, the major commercial business in the country built upon occurring room,” explains Tay, managerial director as well as CEO of the REIT executive.

The portfolio is being jointly marketed by BREIT Industrial HS Property Owner, BREIT Industrial Canyon Il1M03, BCORE Jupiter NEMW 1, and Icon Pac Owner Pool 4 Northeast/Midwest.

According to an independent assessment by HSBC Institutional Trust Services (Singapore), the portfolio had an accumulated market price of $140.5 million as of March 29.

The procurement is anticipated to be accomplished by 2Q2022.